Business Insider-Krugman Has Won

Business Insider Henry Blodget has posted a great piece titled: The Economic Argument is Over–Paul Krugman Has Won.  A worthy, very quick read of the debate and evidence as to what happens when austerity is applied. Pretty much all points Paul Krugman has been making for five years now. Couple quotes here:

“So the empirical evidence increasingly favored the Nobel-prize winning Paul  Krugman and the other economists and politicians arguing that governments could  continue to spend aggressively until economic health was restored. And then, last week, a startling discovery obliterated one of the key premises  upon which the whole austerity movement was based.”

 

“And in the meantime, for the sake of the country, it would be nice if our  government came together and agreed to restore full funding for basic  services. Because the current state of government dysfunction in  the United States is not just economically harmful. It is also embarrassing,  depressing, and based on a premise that is now demonstrably false.”

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